For the first time in the history of decentralized finance (DeFi), a Polygon-based protocol allows leveraged trading for mainstream stocks. It strengthens the connection between Web2 and Web3 and unlocks new earning opportunities for traders.
Gains Network becomes first crypto platform to offer leveraged stock trading
Gains Network, a Polygon-based ecosystem of decentralized finance products, now allows its users to gain exposure to the leveraged stocks market.
Imagine trading the price of #stocks on-chain right from your web wallet.— Gains Network ? (@GainsNetwork_io) April 29, 2022
Then imagine not having to sign-up, 0% price impact on trades, and 0% funding / borrowing fee. ?
Wouldn’t that be cool? #Web3 #gTrade
As such, it becomes the first cryptocurrency derivatives platform that enables stock trading. Since the first releases, positions associated with Facebook, Apple and other major stocks will be available.
Initially, all positions will be offered in beta, and more stock positions will be added in the coming weeks. The Gains Network team stresses that besides stock positions, the platform's interface and UX/UI are reconsidered.
Gains Network founder Sébastien highlights the crucial importance of this release for the entire DeFi segment and global trading ecosystem:
We are delighted and honored to be the project that takes DeFi a significant step further by being the first to offer synthetic leveraged trading on the spot price of US stocks. Use cases are getting closer to what TradFi offers, and the user experience is finally reaching acceptable levels for mass adoption. It truly is the most exciting time to be in DeFi.
Due to gTrade's eccentric design, users can open positions with no funding or borrowing fees, trade with high leverage and enjoy accurate prices thanks to the purpose-made Chainlink-powered oracles system.
Gains Network offers synthetic leverage instead of borrowed
The trading module design used by Gains Network is different from that of its major competitors. Its leverage is not borrowed but rather synthetic in nature: this lowers barriers to retail investors and DeFi newbies.
Gains Network architecture leverages an innovative trading system underpinned by core native asset GNS. It includes two liquidity pools to execute trades for all pairs listed on gTrade.
As covered by U.Today previously, gTrade DEX is a flagship product of Gains Network Polkadot-based decentralized finance (DeFi) ecosystem.